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Morning Outlook


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Overnight Highlights

  • In overnight markets: corn + ½, soybeans -1 ¾, wheat +1 ¾, crude -.11, gold -1.00, Dollar +.31, Dow futures +33.     
  • Chinese corn imports have declined to a 3.5 year low, as domestic prices have fallen in line with international levels.
  • Agroconsult says that Brazil will slaughter 10% more cattle in 2017, despite the tainted meat scandal.
  • Taiwan bought a cargo of Brazilian corn in the overnight.
  • South Korea bought 2 cargos of optional origin feed wheat for fall delivery.
  • EIA Energy stocks report will be released this morning.
  • Tuesday funds bought 8,000 wheat, 27,000 corn. Sold 7,000 soybeans, 7,000 meal, 3,000 oil.      
  • The White House is prepared to announce a massive corporate and personal tax cut plan which will be bullish for stocks.

Commodity Weather Group Forecast


All opinions expressed in this commentary are solely those of Water Street Advisory. This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors.

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